First American Announces Agreement to Acquire RedVision
Acquisition will create the leading full-service provider of title evidence to the marketplace, connecting First American’s industry-leading title and property data
September 6, 2016, Santa Ana, Calif.
First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today announced the signing of an agreement to acquire RedVision Systems, Inc., the largest independent national provider of title and real property research. RedVision, which is based in New Jersey, offers title evidence solutions, including data, technology and managed services focused on the procurement and processing of title information. The company is recognized throughout the industry for its proprietary technology, which includes its production platform, TitleVision2, and Nova®, which offers a customizable and scalable solution for title research and production.
"We’re excited to soon welcome RedVision to the First American family of companies. RedVision’s data, technology and services complement First American’s existing title search and title evidence production and will further expand First American’s industry-leading position in title and property data," said George Livermore, executive vice president of First American’s Data and Mortgage Solutions division, which will include RedVision. “RedVision’s nationwide title production platform, coupled with First American’s title and property data, and billions of recorded documents, will offer our customers unmatched quality, coverage and operational flexibility.”
The acquisition will allow First American’s Data Trace group to leverage RedVision data to quickly and efficiently build additional title plants.
RedVision, which will become part of First American’s Data and Mortgage Solutions division, will operate as a business unit under its brand and its management team, with CEO Brian Twibell continuing to lead the business.
"We’re delighted with the opportunity to combine our technology, services and expertise with those of First American, a company known for its integrity, innovation and leadership in the title and settlement services industry. RedVision’s platform, now powered by industry-leading title and property data, will offer title evidence and packaged title reports with enhanced quality, accuracy and efficiency,” said Twibell. “Our employees will also benefit by being part of a company recognized in 2016 by Fortune® magazine as one of the 100 best companies to work for in America.”
About First American
First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; and banking, trust and investment advisory services. With revenues of $5.2 billion in 2015, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2016, First American was recognized by Fortune® magazine as one of the 100 best companies to work for in America. More information about the company can be found at www.firstam.com.
RedVision® applies data, technology and managed service solutions to transform the procurement and processing of title information. In 2015 the company introduced its proprietary NOVA® technology and cascade of best-practice standardized Redi® products – SearchRedi®, ExamRedi®, CurativeRedi® and ClearingRedi® – to empower customers with transaction cost savings, SLA attainment, compliance and risk management. Since 2006, RedVision has delivered more than 7.5 million title reports to 1,600+ client organizations, including financial institutions, title underwriters, settlement service providers, national agents, local agents, lenders, attorneys and foreclosure/default processing firms. RedVision has been designated an American Land Title Association (ALTA) Elite Provider, successfully examined against SOC 2 standards, named on HousingWire’s TECH100™ and listed repeatedly as one of the fastest-growing companies by Inc. For more information, please visit www.redvision.com.